World News
Island Oil Publishes 2025 ESG Report
- Island Oil Group releases 2025 ESG Report with particular emphasis on its Social pillar
- Measures include a scholarship programme, volunteering leave, and upgraded crew connectivity
- Group maintains greenhouse gas reduction targets and supports waste-to-energy initiatives
- First Sustainability Statement prepared under the draft simplified ESRS framework
Cyprus-based marine fuel supplier Island Oil Group has released its 2025 ESG Report, setting out progress across its environmental, social, and governance priorities.
The report places particular focus on the Social pillar, detailing initiatives introduced during the year to support employees on shore and at sea, including wellbeing programmes, health workshops, family support measures, and enhanced benefits.
Among the measures highlighted are improved allowances, the People Scholarship Programme, the introduction of a Volunteering Leave Day, and continued investment in crew welfare through upgraded onboard connectivity and entertainment across the fleet.
On the environmental side, the group says it has maintained its greenhouse gas reduction targets, supported waste-to-energy initiatives, and continued work on energy efficiency and emissions monitoring.
The company also incorporated the results of its double materiality assessment into its first Sustainability Statement, prepared under the draft simplified European Sustainability Reporting Standards (ESRS) framework.
"In 2025, we made meaningful progress in further embedding ESG principles across our operations, strategy and governance, with particular emphasis on the Social pillar," Chrysostomos Papavassiliou, CEO and chairman of Island Oil, said in a statement announcing the report.
"Our people – on shore and at sea – are fundamental to our long-term success, resilience and ability to deliver sustainable value."
The group operates physical supply operations across the Eastern Mediterranean and Black Sea in Cyprus, Romania, and Israel, and recently expanded its fleet with two bunker tankers it says are aligned with its decarbonisation roadmap.
The full 2025 ESG Report is available from Island Oil's website.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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